2/12/09

No matter that you don't know a mortgaged backed security from a collateralized debt obligation. You know that the mortgage companies, the banks and Wall Street created a monster financial mess that is causing a ton of suffering.

How did this happen? The basics of the mortgage crisis are all explained by David Faber of CNBC in his brilliant documentary, "House of Cards." [CNBC site page.]

We watched it tonight. Faber goes for interviews far and wide to tell the story with clarity and persistence. He speaks to the mayor of Narvik Norway, to former Fed Chairman Alan Greenspan, to contrarian investor Kyle Bass and to a whole lot of others, from financial scoundrels to ordinary hurting folk.

And guess what. Like a great professor, he translates complexity, teaches us what happened, when, where and how it happened and then he leaves it up to us to reflect on what needs to be done next.

TTB Rating: Must see! The best 2 hours you can invest in your economic education. And woven into a great story too.

Check out the Promo Preview Video or the Cramer Promo. Good work by all involved: An Emmy, Peabody, and Dupont award winner, David Faber is the anchor and co-producer of CNBC's acclaimed original documentaries as well as a contributor to CNBC's "Squawk on the Street." James Jacoby is writer and producer of CNBC's "House of Cards." Jill Landes is co-producer. James Segelstein is senior producer. Mitch Weitzner is the Executive Producer of CNBC's Long Form Unit. Jonathan Wald is the Senior Vice President, Business News at CNBC.
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